FULL DISCLOSURE: Selkirk Copper is a sponsor of theDeepDive.ca.
Selkirk Copper Mines (TSXV: SCMI) has closed the book on a drill campaign that ran through one of the harshest stretches of Yukon weather on record, releasing the final assays from a Phase 1 program that the company says was the largest in the territory in a decade.
The program, conducted between August 2025 and April 2026, returned high grade copper-gold-silver mineralization across all five of its primary target areas within the Minto mine footprint. The final batch covers 46 holes drilled between February and March of this year, and includes the confirmed discovery of a new lens at depth.
That discovery, designated the 301 Lens, sits beneath previously known near-surface resources at Area 118 and was among the strongest intercepts of the campaign. The footprint of that lens currently covers an area measuring 500 metres by 300 metres, with mineralization ranging in thickness from 4 to 20 metres.
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Highlights from the final results include:
- 26SCM157: 1.56% copper, 2.26 g/t gold and 7.63 g/t silver over 15.7 metres from a depth of 278.6 metres at Area 118
- Including 4.39% copper, 7.60 g/t gold and 21.07 g/t silver over 4.1 metres
- 26SCM134: 3.77% copper, 6.74 g/t gold and 23.68 g/t silver over 3.8 metres from a depth of 639.7 metres at Minto East
- 26SCM131: 3.56% copper, 2.34 g/t gold and 21.42 g/t silver over 3.7 metres from a depth of 195 metres at Minto North
- 26SCM142: 2.93% copper, 1.50 g/t gold and 16.37 g/t silver over 5.0 metres from a depth of 325.4 metres at the 117 Lens
- 26SCM137: 0.46% copper, 0.14 g/t gold and 1.57 g/t silver over 69.6 metres from a depth of 13.7 metres at Ridgetop
Individual one-metre samples within the 301 Lens ran as high as 4.6% copper and 23.1 g/t gold, ranking among the richest precious metal grades in a database of 163,000 historical samples.
President and CEO Colin Joudrie called the results exceptional, noting the team expanded known zones, found new high-grade lenses and hit mineralization at depths never previously drilled.
The data is being folded into an updated resource estimate and preliminary economic assessment due mid-2026.
“We could not have asked for a better start to the 50,000 meter Phase 2 drill program with drill productivity exceeding already high performance from the Phase 1 drill program. The Phase 2 program is designed to inform a planned feasibility study in-fill drilling, resource definition, integrated mine planning, economic studies, and refinements to the restart development opportunity,” added Joudrie.
The follow up is already moving faster than its predecessor. The 50,000 metre Phase 2 program, launched May 1, had logged 14,000 metres across 59 holes by June 1, roughly 28% of the target. Four rigs are turning at an average of 120 metres per day, well ahead of the 94 metres recorded during Phase 1.
The first Phase 2 assays are expected within eight weeks.
Selkirk Copper last traded at $2.03 on the TSX Venture.
FULL DISCLOSURE: Selkirk Copper is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Selkirk Copper. The author has been compensated to cover Selkirk Copper on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
